HIST 393 Lecture 6: Lecture 6 - Discussion
19 Sep 2019
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Document Summary
Slavery is a powerful economic institution and in the economy of the united states. Scholars have argued if not for slavery and cotton, the us might not have become the industrial powerhouse it became by the end of the century. Slavery brings in and represents such capital. Capital coming from europe and products being distributed in europe as well. It was so backward and far removed from the idea of a free flourishing economy. Fuel system was destined to crumble, wasn"t going to work anyway. Now historians talk about the global economy and the place of the south in that economy. The capital may come into the cotton growers but also may come into the banks and financial institutions tied to the cotton growers and be distributed to other institutions. Slave owners took out mortgages and took out money based on the fact that they had property. America"s slaves were worth more money than all the railroads, factories.
